Trump says he will announce Fed chair next week
'We're going to be announcing next week,' president says at Cabinet meeting
By Diyar Guldogan
WASHINGTON (AA) - US President Donald Trump said Thursday he will announce his pick to lead the Federal Reserve to replace Chair Jerome Powell next week.
"We're going to be announcing next week," Trump said at a Cabinet meeting.
His remarks came after the Fed held the policy rate steady at a target range of 3.5% - 3.75% on Wednesday, citing economic activity expanding at a “solid” pace.
Trump said Fed rates are "too high, unacceptably high."
"We should have the lowest interest rate anywhere in the world. They should be two points and even three points lower,” he said.
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